|Over a week ago|
AngloGold initiated with a Buy at Deutsche Bank » 06:2706/1706/17/20
Deutsche Bank analyst…
Deutsche Bank analyst Liam Fitzpatrick initiated coverage of AngloGold Ashanti with a Buy rating and ZAR 500 price target. AngloGold is a well established gold producer with a diverse portfolio of 10 producing mines across three continents, Fitzpatrick tells investors in a research note. While the company has made "significant strides in simplifying and de-risking the business," it continues to trade at a large discount to global peers, adds the analyst. He sees potential for AngloGold to close the "rating gap" over the next 12 months through completion of announced asset sales, successful project delivery and improved cash flow conversion.
|Over a month ago|
AngloGold price target raised to $31 from $29 at RBC Capital » 12:0005/2705/27/20
RBC Capital analyst James…
RBC Capital analyst James Bell raised the firm's price target on AngloGold to $31 from $29 and keeps an Outperform rating on the shares. The analyst called the company's potential move in its primary listing from Johannesburg to London a "key catalyst."
Paulson adds Kirkland Lake, exits Caesars in Q1 » 16:3705/1505/15/20
KL, NAV, AEM, CZR, LOGM, TIF, TECD, QEP, ENDP, NG, GLD, DISCA, AU, TSU, PCG, BHC, HZNP, TAK
John Paulson's Paulson & Co. disclosed in an SEC filing its holdings as of March 31, 2020. The fund's two new buys during the first quarter included, by size of position, Kirkland Lake (KL) and Navistar (NAV). Paulson exited six holdings during the quarter, including by size of previous position Agnico Eagle Mines (AEM), Caesars (CZR), and LogMeIn (LOGM). The fund increased its stake in five holdings, including by size of previous position Tiffany (TIF), Tech Data (TECD), QEP Resources (QEP), Endo (ENDP), and Novagold (NG). Paulson reduced its stake in nine holdings, including by size of previous position SPDR Gold Shares (GLD), Discovery (DISCA), AngloGold Ashanti (AU), Tim Participacoes (TSU), and Pretium Resources (PVG). The fund's top holdings as of March 31, in order of size, were Bausch Health (BHC), SPDR Gold Shares, Horizon Therapeutics (HZNP), Takeda Pharmaceutical (TAK), and AngloGold Ashanti.
AngloGold upgraded to Neutral from Underperform at BofA » 05:2304/2104/21/20
BofA upgraded AngloGold…
BofA upgraded AngloGold Ashanti to Neutral from Underperform.
|Over a quarter ago|
Barrick Gold says will not approve sale of Sokimo's stake in Kibali » 11:0202/2002/20/20
Barrick Gold Corporation…
Barrick Gold Corporation (GOLD) said in a statement: "Barrick's attention has been drawn to media reports to the effect that the Congolese parastatal Societe Miniere de Kilo-Moto SA has signed a memorandum of understanding with AJN Resources Inc to sell its 10% share in the Kibali gold mine to that company. Barrick wishes to make it clear that SOKIMO is contractually bound by Barrick and its joint venture partner AngloGold Ashanti (AU) not to sell or otherwise transfer its shares in Kibali Goldmines SA, the owner of the Kibali gold mine, without their approval. No such approval has been sought, nor will it be granted."
AngloGold sells South African assets to Harmony amid priorities shift » 13:2502/1202/12/20
AU, HMY, GFI, KGC, IAG, AEM
On Wednesday, South…
On Wednesday, South African gold miner AngloGold Ashanti (AU) announced it would be selling its remaining South African producing assets and related liabilities to Harmony Gold Mining (HMY) amid desires to list in London or Toronto. Consideration for the transaction is in cash and deferred payments with expected proceeds of around $300M with additional payment if certain criteria are met. SALE PROCESS: A rigorous nine-month sales process identified Harmony as the most suitable party to acquire these assets, given its financial capacity and proven technical capability in operating ultra-deep, hard-rock mining assets in South Africa. "From the beginning of the process an objective has been to sell our SA assets to a strong, capable and responsible operator that will ensure their long-term sustainability; we believe that this transaction achieves that," Kelvin Dushnisky, CEO of AngloGold Ashanti said. "This sale helps deliver on our commitment to sharpen our management focus and capital allocation on the highest return investment options available to us." HARMONY EARNINGS: Harmony also announced its operating results for the six months ended December 31, 2019. Harmony reported a 12% increase in revenue to $1.054B and earnings per share of 17c for the time period. "While a stronger gold price received continues to provide a welcome boost to our financial performance, we will focus our efforts on what we are able to control -- safety, costs, and production," the company said in a statement. PRICE ACTION: Shares of AngloGold are currently up approximately 2% to $19.42, while Harmony Gold shares are up over 10% to $3.06 per share. OTHERS: GOLD MINERS: Other publicly traded gold miners include Gold Fields (GFI), Kinross Gold, (KGC), IAMGold (IAG) and Agnico Eagle (AEM).
AngloGold initiated with a Neutral at UBS » 09:1202/0602/06/20
UBS initiated coverage of…
UBS initiated coverage of AngloGold with a Neutral rating and ZAR 31,500 price target.
IAMGold, AngloGold Ashanti to sell stake in Mali mine for $105M » 07:2912/2312/23/19
IAMGOLD Corporation (IAG)…
IAMGOLD Corporation (IAG) announced that the Company, together with joint venture partner, AngloGold Ashanti (AU), has entered into an agreement to sell our collective interests in Societe d'Exploitation des Mines d'Or de Sadiola S.A. to Allied Gold Corp. AGA and IAMGOLD each hold a 41% interest in SEMOS with the remaining 18% interest held by the Government of Mali. Under the terms of the Agreement, IAMGOLD and AGA will sell their collective interests in SEMOS to Allied Gold for a cash consideration of $105M, payable as follows: $50M upon the fulfilment or waiver of all conditions precedent and closing of the Transaction; Up to a further $5M, payable 8 days after Closing, to the extent that the cash balance of SEMOS at Closing is greater than an agreed amount; $25M upon the production of the first 250,000 ounces from the Sadiola Sulphides Project; and $25M upon the production of a further 250,000 ounces from the SSP. The Transaction is subject to the fulfilment, or waiver, of a number of conditions precedent, including the receipt of certain approvals and releases from the Government of Mali, as well as, in the case of AGA, the approval of the South African Reserve Bank. It is anticipated that all conditions precedent will be fulfilled or waived by the end of April 2020. In addition, upon the fulfilment or waiver of all conditions precedent to the Transaction but immediately prior to Closing, SEMOS will pay a dividend of $15M pro rata to its shareholders. IMG and AGA will each receive a cash dividend of $6.15M and the Government of Mali will receive a cash dividend of $2.7M.
AngloGold upgraded to Buy from Neutral at Goldman Sachs » 05:1110/1810/18/19
Goldman Sachs analyst…
Goldman Sachs analyst Eugene King upgraded AngloGold Ashanti (AU) to Buy from Neutral with a price target of 370 rand. The analyst sees tailwinds for the company from the gold strength and rand weakness. King prefers the stock to shares of Gold Fields (GFI).
Unusually active option classes on open September 6th » 09:4009/0609/06/19
MSFT, AMZN, SQ, CGC, CRON, TPR, DXC, ZM, AU, DOCU
Unusual total active…
Unusual total active option classes on open include: DocuSign (DOCU), AngloGold (AU), Zoom Video Communications (ZM), DXC Technology (DXC), Tapestry (TPR), Cronos Group (CRON), Canopy Growth (CGC), Square (SQ), Amazon (AMZN), and Microsoft (MSFT).